Commonwealth Superannuation Corporation announces new CEO
The Board of Commonwealth Superannuation Corporation (CSC) today announced that Damian Hill will become its new Chief Executive Officer in July this year.
01 Dec 2020
CSC’S current CEO, Peter Carrigy-Ryan, will retire following a long and distinguished career at CSC.
CSC’s Board Chair, Patricia Cross said: “After a long and thorough recruitment process facilitated by an independent global executive search consulting firm, we have selected Damian Hill as our CEO from a very impressive field of candidates.
“He has a proven track record, having performed successfully as the CEO of a major superannuation fund, and has been a highly regarded and active participant in the industry over many years.
“He brings a great depth of experience and knowledge to CSC, and his particular customer focus will complement the many initiatives we have implemented over the past few years.”
Damian Hill said: “I am really looking forward to working at CSC. It is responsible for both defined benefit and defined contribution super schemes, and there will be significant challenges in every aspect of managing a large complex organisation like CSC.
“CSC is both an APRA and ASIC regulated organisation, and has responsibilities and accountabilities to the Government and Federal Parliament as a statutory corporation.
“There is a unique dynamic with this organisation, delivering retirement outcomes for members of the Australian Public Service and the Australian Defence Force.”.
Mr Hill will replace Peter Carrigy-Ryan who will retire after being the inaugural CEO of CSC since 2011 and having been employed by predecessor superannuation entities to CSC since 2004. Mr Carrigy-Ryan has been critical to the founding of CSC and the growth and development of CSC superannuation offerings to its highly valued members and customers.
Mrs. Cross commented: “The Board of CSC and I thank Peter for his extraordinary contribution to CSC. Peter’s leadership, his values, his command of complexity, and his total customer and member focus will be very much missed, and we wish him all the very best in his retirement.”
About Commonwealth Superannuation Corporation
CSC is a superannuation provider with a Board comprising eight Directors with an Independent Chair (from 1 July). Two of the directors are nominated by the Chief of the Defence Force, two by the ACTU and four by the Minister.
It is responsible for the investment and management of (closed) defined benefit schemes and open defined contribution schemes. It has a national member base with 725,000 pensioners, preservers and contributors.
It has $50 billion in funds under management, and employs 470 staff with offices in Sydney and Canberra.
About Damian Hill
Damian is an experienced leader with over 30 years in the superannuation and life insurance industries.
Most recently he was CEO of REST, one of the largest industry funds in Australia.
He has a background in superannuation administration across all sectors of the industry. He has been involved with policy throughout his career and was heavily involved in the Superstream initiatives where he chaired the Government’s Superstream Advisory Council.
He is a fellow and life member of the Association of Superannuation Funds of Australia (ASFA) where he currently chairs the ASFA/ASP Services Committee, leading the implementation of Government policy across the key providers in the industry.